The global healthcare facilities management market was valued at US$ 354,138.7 Mn in 2022 and is forecast to reach a value of US$ 931,220.1 Mn by 2030 at a CAGR of 12.9% between 2023 and 2030. The global healthcare facilities management market is experiencing strong growth owing to the increase in prevalence or incidence of chronic disease and increase in demand for or adoption of healthcare facility management services/solutions. Moreover, growth in healthcare expenditures and increasing medical tourism is expected to boost growth of the market. However, factors such as lack of investment in facility management and gap between providers and payers are expected to hamper growth of the global healthcare facilities management market.
Global Healthcare Facilities Management Market: Regional Insights
Based on geography, the global healthcare facilities management market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Among regions, North America is expected to gain highest share in the market over the forecast period owing to the rise in prevalence of chronic and infectious diseases, rise in number of hospitals and increasing hospital admissions, and robust healthcare infrastructure in the region. For instance, according to the American Hospital Association’s (AHA’s) statistics published in 2022, there are around 6,093 active hospitals in the United States. Moreover, with the growing geriatric population and increasing chronic diseases in the U.S., the demand or use of healthcare facility management services or solutions is also increasing rapidly.
Europe and Asia Pacific are also expected to witness substantial growth in the global healthcare facilities management market due to the increase in number of hospitals, rise in hospitalizations, rise in burden of chronic or infectious diseases, and rise in healthcare expenditure in these regions. For instance, the Government of India is planning to introduce a credit incentive programme worth Rs. 500 billion (US$ 6.8 billion) to boost the country’s healthcare infrastructure. According to the India Brand Equity Foundation (IBEF), the Indian hospital industry accounting for 80% of the total healthcare market, and is expected to reach around US$ 132 billion by 2023.
Figure 1. Global Healthcare Facilities Management Market Share (%), by Region, 2023
Global Healthcare Facilities Management Market: Trends
Rise in focus on facility management is a recent trend
Healthcare facilities management is expected to grow at a rapid pace over the forecast period due to rapid privatization of medical care in developing countries, as well as increasing trend towards outsourcing facilities management services/solutions. The healthcare sector is capitalizing on the growing consumer desire for quick, convenient healthcare services available round the clock. This is one area where facilities management providers can offer their services or solutions. This trend is expected to continue during the forecast period.
Need for waste management is another trend
The management of healthcare waste requires increased attention and diligence to avoid adverse health outcomes associated with poor practice, including exposure to infectious agents and toxic substances. The waste may compromise patient care quality, spread infectious diseases, and may increase environmental pollution. Such high medical waste is expected to contribute to the demand for waste management services or solutions, thereby contributing to the growth of the market. This trend is also expected to continue over the forecast period.
Healthcare Facilities Management Market Report Snapshots
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients